Moody’s Investors Service on Friday raised Russia’s sovereign rating to investment grade of Baa3 from junk status of Ba1, citing policies which have boosted the country’s public finance and strengthened its economy against external shock. The decision reflects “effective governance by policy institutions which successfully contained the economic and financial impact of the twin shocks created by the fall in the oil price and the imposition of international sanctions ,” said the ratings agency. The outlook on the rating was revised to stable from positive.

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